ID: MRFR/CnM/2519-CR | 114 Pages | Published By Priya Nagrale on October 2017
Diacetone Alcohol Market, the market share has been rising, with a gain of 4.85% to reach the revenue of around USD 1,594.5 million, till the end of the year 2030
Diacetone Alcohol Market Overview
According to the Diacetone Alcohol Market, the market share has been rising, with a gain of 4.85% to reach the revenue of around USD 1,594.5 million, till the end of the year 2030. The Diacetone Alcohol or DAA generally consists of the supreme solubility properties and is considered an oxygenated solvent. It is a type of Alcohol derivative that includes the components of non-ethanol. This diacetone alcohol can be easily found in the natural Achnatherum robustum plant, also called the sleepy grass. The aldol condensation of acetone is used synthetically to produce it.
The global Diacetone Alcohol Market has been segmented based on the application and end-user industry. Further, the application segment has been classified into solvents, cleaning, chemical intermediates, preservatives, drilling fluids, and others. And the end-user segment is divided into the paints & coating industry, automotive, textiles, oil & gas, and others.
The global market for Diacetone Alcohol is driving growth because of several factors like growing consumer spending, continuous global economic development, growing investments, and expanding urban population worldwide. The rising usages of Diacetone Alcohol are projected to bring lucrative opportunities for the global market due to the rising alcohol market prices and growth trajectory of diacetone.
COVID 19 Impacts and effects
Diacetone alcohol market usages have been influenced by the COVID-19 outbreak that has spread all across the world; businesses of several types are starting to show the major signs of distress. The DAA industry outlook is not an exception; it is used in some industries that currently witness very high demand. The most affordable product to manufacture. There has been a fast need is projected to contribute to the growth of the world DAA market.
The diacetone, alcohol market type, is of varied nature. Actually, there are many driving factors. The Global Diacetone Alcohol is divided into the application and end-use industry. On the basis of applications, the market is segregated into solvents, chemical Intermediates, different cleaning, drilling fluids, and several preservatives, among others. Among these different applications, the use of diacetone alcohol as a primary solvent is pushing the market with maximum share. In future years, the category is estimated to rise at a maximum CAGR of 5.70% because of its solubility in both water and oil. Chemical intermediate is the second biggest segment in the worldwide Global Diacetone Alcohol Market with a stag rant 21% share. Based upon the end usages of the industry, the Global Diacetone Alcohol Market is divided into different paints & coating, textiles segment, automotive, and oil & gas segments, among other industries. Among the categories, the paints & coatings industry is the most popular segment, which is developing at the highest CAGR and projects to achieve USD 610.0 million by the end of the year 2030. This particular industry is a primary consumer of Diacetone Alcohol, which is listed for a primary share of the total demand of the product. The overall Textile and automotive industry are primarily following the most leading category that is the paints & coatings industry.
Different factors are focusing on boosting the market share, including factors like continuous global economic development, rising consumer spending, expanding urban population, rising investments, and rise in recreational operations. Besides, huge investments in research and development activities to improve efficiency and enhance the performance of DAA through innovative solutions, higher quality and outputs, reduced breakages, increased efficiency, and increasing establishment of major brands are also bolstering the growth.
The growth trajectory of diacetone, alcohol market prices have risen rapidly in the most contemporary years due to the increasing number of usages which is created by significant end-use industries of various types. The market has also predominantly diversified because of amplified usage in the solvent extracting in the making of purification for varieties of resins and waxes. The increased number of construction activities has provided different ways to escalate the augmentation scope of the market in terms of different varnishes, coating, and paints that are actually employed to beautify the building structures around.
Increasing diacetone, alcohol market demand, owing to less cost, is projected to drive the major demand for the industry. Also along with, growing product design, mega innovations lead the maximum customer experience and are expected to boost the market growth within very little time.
Though the forecast for diacetone alcohol market analysis is impressive, there are certain restraints. The entire process of manufacturing is triggering a very high level of pollution. Overall, the countries are trying hard to minimize or lessen this effect by presenting a new kind of secondary product that could hold actual back the major standard DAA market outlook.
The diacetone alcohol market demand segment is estimated to witness growth owing to its increasing demand from the low-income categories. In addition, consumers are showing interest in buying more. Moreover, the essential demand is expected to keep stagnant because of the relatively better price of the product. Because of increasing demand for low-price advanced and premium technology-based, the product is estimated to drive the segment in the years to come. In addition, the industry is expected to reap the benefit of rising demand for the latest products by the consumers. Also along with, rising demand for the locally manufactured latest product is expected to have a huge positive impact on the demand.
The primary market claims to have a revenue of USD 1,594.5 million by 2030 and a 4.85% CAGR over the estimated period (2019- 2030). The requirement for this vast concept has risen because companies are conscious now. The different Asian and North American major countries are focusing on spreading the production to meet the given targets and deal with innovative technologies effectively.
The diacetone, alcohol market growth, is impressive; famous companies are manufacturing it. It is a modern concept. Unbelievably high in demand, and able can give the consumer a unique experience. The best products provide a perfect construction, thus, has offered less strain on the demand
By Sales Channel
The companies are creating new avenues, and this concept of coating is gaining momentum. The processes are dynamic now, so the concept is evolving every day. To meet the global supply chain and latest technology services criteria, the major companies are getting agreement to grow and work together. Organizations that are active in the making of different launches have an advanced solution sanctioning that can proactively change the functions.
Diacetone Alcohol Market - Division on the basis of Application
Diacetone Alcohol Market - Division on the basis of End-User
Diacetone Alcohol Market - Division on the basis of Region
Intended Audience of DAA:
The major players in the Global Diacetone Alcohol Market are many:
As per diacetone alcohol market forecast analysis, the entire region of North America dominated the Global Market and has registered the largest share of the market in the year 2016. The Asia Pacific market is again followed by countries like Europe and North America. Moreover, the market is huge and will witness major growth during the estimated period with a rising concentration of end-user segments for DAA demand in the global region coupled with a major expansion of primary producers of DAA and its alloys in the region. Over the estimated period, the regions of the Middle East & Africa are projected to offer several lucrative opportunities for byproducts because of the new construction latest activities in the region and carrying trend of industry bifurcation to non-oil manufacturing advanced sectors, with respect to major declining crude oil prices.
Europe is a prominent region in the Global Diacetone Alcohol Market. It shows a considerable total market share of 18%, as of the year 2016. Germany dominates the European market share because of the increasing demand for paints & coatings from both the sectors of the household and automotive industry. Europe is followed by Latin America countries and the Middle East & Africa, which is projected to rise at a considerate rate during the forecast timeline.
In Oct 2021
The prominent market player Solvay has declared its goal to achieve carbon neutrality by the end of 2050. Further, the company has aimed to improve its greenhouse gas emission reduction by reducing it to the target of -30% by the end of the year 2030.
In July 2019
A global leader named ArrMaz in specialty surfactants for crop nutrition, infrastructure, and mining market has been acquired by Arkema group. This collaboration has proposed to reinforce the group’s profile in the future.
|Market Size||2030: USD 1,594.5 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Application, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Solvay S.A (Belgium), Arkema Group (France), Monument Chemical Inc. (U.S.), Recochem Inc. (Canada), Prasol Chemicals Pvt. Ltd. (India), KH Neochem Co., Ltd. (Japan)|
|Key Market Opportunities||The growth trajectory of diacetone, alcohol market prices have risen rapidly in the most contemporary years due to the increasing number of usages|
|Key Market Drivers||Continuous global economic development, rising consumer spending, expanding urban population, rising investments|
USD 1,594.5 million by 2030
To have an expected CAGR would be 4.85% during the forecast period.